Vietnamese exporters have pinned high hopes on exports to China growing after the country - a key market for Vietnam’s agro-fishery products - fully resumed trade activities at five border gates in Lang Son province from January 28.
Despite a downturn in the export of aquatic products in the first month of 2023, local exporters remain optimistic that the market will recover from the second quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Two-way trade between Vietnam and India saw a yearly increase of 13.6% to over 15 billion USD in 2022, statistics from the General Department of Customs showed.
Figures from the American Business Association show that the volume of goods imported and exported by sea between Vietnam and the US ranks second in Asia, only after China.
Vietnam’s textile, garment and footwear sectors aim to achieve a total export value of 77-80 billion USD in 2025 and 106-108 billion USD in 2030, according to the strategy for the development of Vietnam’s textile and footwear industry.
Indonesian president Joko Widodo said his government will soon consider halting the export of unprocessed copper ores to encourage domestic processing of raw materials in the country’s industrialisation push, following a similar policy on nickel and bauxite.
The Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) will collaborate with relevant agencies in carrying out measures to help enterprises expand their shares in foreign markets, said Vu Ba Phu, head of the agency.
Indonesia plans to produce 695 million tonnes and export 518 million tonnes of coal this year, said Energy and Mineral Resources Minister Arifin Tasrif.
Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union.
Despite decreases in both imports and exports, the country still enjoyed a trade surplus of 3.6 billion USD in the first month of 2023, according to the General Statistics Office (GSO).
Export and import via Bac Luan 2 Bridge and pontoon bridge Km3+4 Hai Yen of the Mong Cai International Border Gate in northern Quang Ninh province resumed on January 28 morning after a week-long Lunar New Year (Tet) holiday.
With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.
Commitments outlined in the EU-Vietnam Free Trade Agreement (EVFTA) on both trade and investment are expected to contribute to attracting European businesses and investors to expand their activities in Vietnam, further promoting trade and investment cooperation.
Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.
Vietnam’s export of agro-forestry-aquatic products hit a record revenue of over 53.22 billion USD last year, up 9.3%, including nearly 11 billion USD from aquatic products.
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